Fastenal (NASDAQ:FAST) Issues Earnings Results

Fastenal (NASDAQ:FAST) issued its quarterly earnings data on Friday. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02), Zacks reports. Fastenal had a return on equity of 33.30% and a net margin of 15.44%. During the same period in the previous year, the company earned $0.46 earnings per share.

Fastenal Stock Up 0.7 %

FAST stock opened at $74.77 on Friday. The stock has a 50-day simple moving average of $78.23 and a two-hundred day simple moving average of $72.82. Fastenal has a twelve month low of $61.36 and a twelve month high of $84.88. The firm has a market capitalization of $42.83 billion, a PE ratio of 37.20, a PEG ratio of 3.94 and a beta of 1.02. The company has a quick ratio of 2.29, a current ratio of 4.40 and a debt-to-equity ratio of 0.03.

Fastenal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, January 31st will be issued a dividend of $0.43 per share. This is a boost from Fastenal’s previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a yield of 2.30%. Fastenal’s dividend payout ratio is 77.61%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. increased their price target on Fastenal from $57.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Stephens raised their price target on shares of Fastenal from $56.00 to $75.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. Hsbc Global Res downgraded shares of Fastenal from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 11th. Jefferies Financial Group lifted their target price on shares of Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Finally, Stifel Nicolaus lowered Fastenal from a “buy” rating to a “hold” rating and set a $86.00 target price for the company. in a report on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Fastenal has an average rating of “Hold” and a consensus target price of $77.27.

Insider Activity at Fastenal

In other Fastenal news, Director Rita J. Heise sold 10,888 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $77.67, for a total value of $845,670.96. Following the sale, the director now owns 20,000 shares of the company’s stock, valued at $1,553,400. This trade represents a 35.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Daniel L. Florness sold 31,818 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $84.50, for a total transaction of $2,688,621.00. Following the completion of the transaction, the chief executive officer now owns 286,018 shares in the company, valued at approximately $24,168,521. This trade represents a 10.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 74,660 shares of company stock valued at $6,211,126. Corporate insiders own 0.41% of the company’s stock.

About Fastenal

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company’s fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.